Orders granted in connection with the intented acquisition of a company

Commercial court – company seeking various orders in connection with the intended acquisition of the Company by the CGI Group Holdings Europe Ltd – judgment delayed until after the UK general election – seeking orders sanctioning a scheme of arrangement between the Company and its shareholders – date fixed for hearing - statutory requirements – must be a “special majority” - notice of the passing of the resolution at the scheme meeting and that an application will be made to the court in relation to the scheme must be advertised - scheme must be sanctioned by the court – the test – court satisfied that test satisfied - fact that the directors had given an irrevocable undertaking to vote in favour of the Scheme did not require them to be constituted and treated as a different and separate class from the other scheme shareholders - seeking order confirming the reduction of capital which was approved by special resolution of the members of the Company – the test - satisfied that there is no requirement for the court to settle a list of creditors – orders sought granted –